Technology StocksCree Inc.

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From: more1001/20/2016 9:19:52 AM
   of 9879
Cree’s ($CREE) second quarter revenues and non-GAAP earnings per share were ahead of estimates. The company’s third quarter non-GAAP earnings are positive, although its revenue guidance for the quarter is light.

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To: richardred who wrote (9740)1/20/2016 1:31:40 PM
From: richardred
1 Recommendation   of 9879
Cree to delay Wolfspeed IPO
Jan 19, 2016, 5:59pm EST Updated Jan 20, 2016, 8:47am EST
Lab Support, a division of On Assignment

The business segment made up 6 percent of the overall revenue in the quarter, making up $27.5 million.

Perhaps more critical to Cree's core business, the company has, at long last, completed its LED business restructuring, a move that meant factory consolidation in Durham and “overhead costs reductions,” says Swoboda. The company has not been specific about how the move impacted the Durham headcount.

And the company is in a flexible enough cash position that acquisitions are a possibility in 2016, Swoboda says.

It's been a rocky year for Cree on the Nasdaq.

A year ago, shares were selling for $32.34. But in June, following the announcement that it would be restructuring its LED business, stock dropped to a three-year low. And it has yet to recover.

In Wednesday morning Wall Street action, the company's shares are expected to trade higher following the earnings report on Tuesday. Cree reported $435.8 million revenue for the December-ending quarter, slightly higher than what analysts had expected. The company also reported 30 cents in earnings-per-share, substantially higher than the analyst expectations of 24 cents EPS.

Revenue by segment:

  • Lighting products: $255 million
  • LED products: $153.4 million
  • Power and RF: $27.5 million


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    From: Sam4/5/2016 8:55:24 PM
       of 9879
    Cree Inc. (CREE) shares fell in the extended session Tuesday after the LED light maker forecast lower-than-expected results for the fiscal third quarter. Cree (CREE) shares fell 15% to $24.78, following a brief trading halt after hours. The company said it expects adjusted third-quarter earnings of 13 cents to 15 cents a share on revenue of about $367 million because of weakness in its lighting products business. Cree had previously targeted revenue of $400 million to $430 million. Analysts surveyed by FactSet had forecast earnings of 24 cents a share on revenue of $414.4 million.

    -Wallace Witkowski; 415-439-6400;

    (END) Dow Jones Newswires

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    To: Sam who wrote (9758)4/5/2016 9:28:45 PM
    From: The Ox
       of 9879
    Huge miss in their lighting division based on what I read. The other 2 areas appear to have been inline with expectations.

    Not sure why but this company seems to have a huge miss every few quarters. IMO, this reflects very poorly on upper management.

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    To: The Ox who wrote (9759)4/26/2016 4:21:46 PM
    From: Sam
       of 9879
    Cree gains on FQ3 EPS beat, solid FQ4 EPS guidance
    Apr 26 2016, 16:15 ET | By: Eric Jhonsa, SA Eye on Tech, SA News Editor

    In addition to beating FQ3 EPS estimates (while posting in-line revenue), Cree (NASDAQ: CREE) is guiding for FQ4 EPS of $0.16-$0.22, favorable at the midpoint to a $0.18 consensus. Revenue guidance is more cautious - $370M-$395M vs. a $391.4M consensus - but near-term sales expectations have been low, especially after Cree's April 5 warning.

    FQ3 non-GAAP gross margin was 30.6%, -70 bps Y/Y. FQ4 GM guidance is at ~31.5%. A $9.3M Y/Y drop in GAAP operating expenses (to $113.6M) boosted EPS. $18M was spent on buybacks.

    CREE +5.1% after hours to $25.85.

    Cree's FQ3 results, earnings release

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    From: Ron5/29/2016 10:56:18 AM
       of 9879
    New competition for CREE LED's but a lot more expensive

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    From: Ron7/14/2016 8:04:27 AM
    2 Recommendations   of 9879
    Infineon to buy Cree's Wolfspeed for $850 million

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    From: Ron8/16/2016 10:29:53 AM
       of 9879
    CREE reports earnings today after the close:

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    To: Ron who wrote (9763)8/16/2016 7:00:30 PM
    From: Sam
       of 9879
    Cree slips 5.4% as profits miss, guidance disappoints
    Aug 16 2016, 16:42 ET | By: Jason Aycock, SA News Editor

    Cree ( CREE -2%) is off 5.4% after hours after a fiscal Q4 miss on profits and out-quarter guidance that fell short of consensus in a quarter where it began its transition to a more focused LED company.

    In fiscal 2016, “We successfully restructured the LED business, improved commercial lighting fundamentals, refocused our consumer business on premium LED bulbs, and unlocked significant value with the agreement to sell Wolfspeed," says CEO Chuck Swoboda.

    The company swung to a profit of $19M on a non-GAAP basis, vs. a year-ago loss of $21M. Gross margin rose to 30.8% from a year-ago 20.9%.

    It's guiding to fiscal Q1 revenue (both continued and discontinued operations) of $356M-$378M, below consensus for $387.2M, and non-GAAP EPS of $0.10-$0.16, well light of an expected $0.21.

    Cash and investments fell to $605M.

    Conference call to come at 5 p.m. ET.

    Press release

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    From: Sam9/7/2016 2:42:48 PM
       of 9879
    China to end use of incandescent bulbs
    Sep 7 2016, 11:08 ET | By: Yoel Minkoff, SA News Editor

    The China government will prohibit imports and sale of 15W to below 60W incandescent light bulb from October 1, 2016, leading to a complete end to use of such lighting products, DigiTimes reports.

    The prohibition is expected to boost demand for LED light bulbs, sources noted. In particular, LED filament light bulbs will replace 15-30W incandescent bulbs.

    Related tickers: ( CREE +2.8%), ( PHG), ( RBCN +3.3%), ( LEDS -1.4%), ( VECO+0.3%), ( AIXG +0.7%)

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